a perfect storm?, page-53

Lets not forget that the Gold price is based in US Dollars and we are mining gold in Australian dollars here in Australia.

I think we also need to consider the Aus $/US $ when looking at gold mining in Australia........


Some on here are only looking at the GOLD price but they are not looking at the GOLD price in Aus dollars......

Some on here will also see the way the currency and the gold prices seem to trend....

Gold price was very high last year but the Aus$/US$ were also closer to parity and the aus$ was even stronger than the uS$ for a few months???

eg Gold price $1700 and the Aust $ stronger than the US$ means that Gold is actually lower than $1700 for Aus gold miners?

Gold price ATM of about $1330 its actually about 10% higher for the Aust gold miners because the Aust $ is about 10% weaker than the US....


Yes, the price of Gold has dropped from the highs BUT the Aus$ has also gone from being stronger than the US$ to 1 Aus$ = approx. 90 cents US.....

I think some people are looking at the Gold highs and comparing then to the current gold price......you are forgetting the currency difference